Coca-Cola Amatil Chief Executive Terry Davis has told a business congress in Sydney this morning that he believes Lion Nathan will struggle to up the bid that CCA believes undervalues their worth. Last week CCA, Australia’s largest soft drink bottler, advised that they would fend off the $7.6b bid made by Lion Nathan - Australia’s second largest brewer. Mr Davis claimed the bid was flawed and “half-baked” and argued that the bid undervalues the company and could hurt CCA shareholders,... ...Read more »
Lion Nathan Chief Executive, Rob Murray, has advised that Australia’s second largest brewer is likely to drop their bid for Coca-Cola Amatil if it cannot be made on amiable terms. The offer, which was announced to shareholders by Coca-Cola Amatil (CCA) last Monday, values CCA at upwards of $7.6b. It has, however, been met with disapproval from their major shareholder (The Coca-Cola Company), the CCA Board and CCA CEO Terry Davis - who dismissed it as a “flawed” bid. “Let’s... ...Read more »
Coca-Cola Amatil (CCA) Chief Executive Terry Davis is not likely to change his mind about the current $7.6b takeover bid tabled by Lion Nathan, believing it to be “half-baked”. He has left the door open to a deal, however, with the right conditions. CCA told shareholders on Monday that Lion Nathan had launched an unsolicited takeover bid for Australia’s largest bottler of soft drinks, in an endeavour to create Australia’s largest beverage company. Coca-Cola Amatil informed... ...Read more »
The Board of Coca-Cola Amatil has decided to fend off the takeover offer made by Lion Nathan, believing it not to be in the best interests of their shareholders. Yesterday they noted “material deficiencies” in the offer made by Lion Nathan, which valued Australia’s largest soft drink bottler at around 10.8 x FY2008 earnings (or about $7.6b). The Board’s main concern is that the price to earnings multiple value of 10.8 is below the other major beverage deals made in Oceania... ...Read more »
Lion Nathan Limited has confirmed that it is in discussions with Coca-Cola Amatil Limited (CCA) regarding a potential combination of the two companies, which would result in Lion Nathan acquiring all of the issued shares in CCA. The announcement was made just before midday, after they had earlier asked for a trading halt to be placed on their shares until an announcement was made. The proposed combination would create the leading Australian and New Zealand beverage company, with a diversified portfolio... ...Read more »
Australia’s largest soft drink bottler, Coca-Cola Amatil, has today informed shareholders that brewer Lion Nathan has made a A$7.61b takeover offer for CCA. The news comes following rumours circulating of a pending merger between Lion Nathan and Coca-Cola Amatil (CCA). Lion Nathan, Australia’s second largest brewer, entered a trading halt this morning in the wake of fresh rumours in the Australian Financial Review that merger discussions with Australia’s biggest soft drink bottler... ...Read more »
Consumer interest in beverages and food produced without toxic chemical pesticides, synthetic hormones, artificial ingredients, antibiotics or preservatives have turned the United States into the world’s largest market for organic products. The organic beverage market remains rather small, Beverage Marketing Corporation’s new ‘Organic Beverages in the U.S.’ report reveals, but it enjoys fierce growth and an expanding presence in mainstream retail outlets.Indeed, the organic... ...Read more »
The favourite snacks of children remain confectionery and potato chips but a new survey reports that healthier snacking options are beginning to tried by young children. The survey required children to list their favourite after school snacks, with 48% of school children aged 11-16 listing potato chips (crisps) among their favourite snacks followed by chocolate/sweets (39%), biscuits/cakes (32%), fruit (32%) and soft drinks (27%). A similar picture emerged for children aged 4-11 years old but fruit... ...Read more »